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May 17, 2013
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not start paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. maybe even a hashtag. you would think it would be front page news on every website. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report but they chose to spend the time they should have been out celebrating our lowest projected deficits since 2008, trying once again to repeal obama care. they voted for the 37th time to repeal obama care despite the fact that there is good reason to believe that obama care is to credit for much of the remarkable deficit reduction projected this week by the cbo. the deficit reduction republicans used to hold up as their entire reason for being. because the biggest driver of our long-term deficits is rising health care costs and -- get thi
not start paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. maybe even a hashtag. you would think it would be front page news on every website. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report...
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May 15, 2013
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that is the deficit problem. without entitlement reform there is no amount of growth that will fix it. melissa: christian, isn't this all noise and nonsense until we fix that problem? >> well, not exactly because, you know, when you have an economy that's suffering from high unemployment andd3 stagnating wages you're not at your full productive capacity. once you reach that level as we've seen in the last few months, once you increase revenues whether it comes from tax increases or improved economic conditions, you drastically and very quickly lower your debt position and your deficit position. that should be the first order of business. that is really what we do first before we figure out what is our true remaining structural long-term deficit. melissa: okay, but doug, you're a numbers guy. let's do thisatively, rather than with our emotions. can the economy quantitatively grow enough to deal with paying for our promises for the entitlements and the system that we have laid out? >> no. at the heart of this are p
that is the deficit problem. without entitlement reform there is no amount of growth that will fix it. melissa: christian, isn't this all noise and nonsense until we fix that problem? >> well, not exactly because, you know, when you have an economy that's suffering from high unemployment andd3 stagnating wages you're not at your full productive capacity. once you reach that level as we've seen in the last few months, once you increase revenues whether it comes from tax increases or...
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. >>> america's deficit is dropping faster than expected. >>> plus, o.j. simpson finally takes the stand today in court. >>> and america's navy takes a major step forward, introducing pilotless drones to our mighty aircraft carriers. [ female announcer ] are you sensitive to dairy? then you'll love lactose-free lactaid® it's 100% real milk that's easy to digest so you can fully enjoy the dairy you love. lactaid®. for 25 years, easy to digest. easy to love. [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patients to nurses to the right machines while dramatically reducing waiting time. [ telephone ringing ] now a waiting room is just a room. [ static warbles ] >>> now to some other stories making news this morning. the leaders of the independent panel on the attack in benghazi will publicly testify before congress. thomas pickering and former joint chiefs admiral, mike mullen, will answer questions from republicans who called their findings flawed. pickering says criticism o
. >>> america's deficit is dropping faster than expected. >>> plus, o.j. simpson finally takes the stand today in court. >>> and america's navy takes a major step forward, introducing pilotless drones to our mighty aircraft carriers. [ female announcer ] are you sensitive to dairy? then you'll love lactose-free lactaid® it's 100% real milk that's easy to digest so you can fully enjoy the dairy you love. lactaid®. for 25 years, easy to digest. easy to love. [ agent...
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May 14, 2013
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austerity cut the public role, that does nothing except hurt the deficit. if you want to reduce the deficit, the best thing you can do is invest in education. the education of american people brings more money to the treasury than anything you name, whether it's early childhood k-12, higher ed, lifetime learning, and to cut education is to increase the deficit. so thank you for posing that question. >> congresswoman, really great pleasure to have you here. thank you so much. >> thank you very much. my pleasure, good luck to you and congratulations. >> thanks again to democratic house leader nancy pelosi for joining me earlier today. that's all in for this evening the rachel maddow show starts now. >> congratulations on that interview. that was riveting. >> thanks. >> thanks to you at home, as well, for staying with us for the next hour. on one of those news days where a lot of very big news broke only to be stepped on by the next big thing breaking a few minutes later. today, for example, a man was into custody in detroit after a pressure cooker was found i
austerity cut the public role, that does nothing except hurt the deficit. if you want to reduce the deficit, the best thing you can do is invest in education. the education of american people brings more money to the treasury than anything you name, whether it's early childhood k-12, higher ed, lifetime learning, and to cut education is to increase the deficit. so thank you for posing that question. >> congresswoman, really great pleasure to have you here. thank you so much. >>...
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May 18, 2013
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instead of what you are concluding your reported it would reduce the deficit by $2.5 trillion? >> i sent six months months on this report. the methodology is about 30 pages long. any person can look at my detail of my analysis. mr. egan has a press release of study he might do. difficult to assess what he is talking about because it's so hidden and minimal. one thing i can say about that is his study basically concludes that an immigrant with an ph.d. and one with a fourth grade education has an equal effect of reducing the deficit in government. that is not only wrong but it's stupid. the reality that a high skilled immigrant, one with a college education pays about $30,000 more in taxes than they take in benefits. a low educated immigrant one with high school degree or less does exactly the opposite. though will take about $30,000 more in benefits than they pay in taxes. the essence of this bill is saying that it's going to take 11.5 million illegal immigrants that on average education of tenth grade and giving them access to 80 different welfare programs, obamacare which is
instead of what you are concluding your reported it would reduce the deficit by $2.5 trillion? >> i sent six months months on this report. the methodology is about 30 pages long. any person can look at my detail of my analysis. mr. egan has a press release of study he might do. difficult to assess what he is talking about because it's so hidden and minimal. one thing i can say about that is his study basically concludes that an immigrant with an ph.d. and one with a fourth grade education...
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May 19, 2013
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and the amazing shrinking american budget deficit. i'll ask mitt romney's chief economic adviser whether he thinks the problem has gone away. >>> also, as america prepares to draw down from afghanistan, what can it learn from britain's withdrawal 170 years ago? i'll ask theauthor of a great new book. >>> next, a look into the crystal ball of technology with google's executive chairman eric schmit. a sure fire plan to reduce carbon dioxide emissions. how so? stay tuned. >>> first, here is my take. conservatives are, of course, mad at barack obama. we'll talk about the various scandals in a moment, but they're also mad at a country that isn't mad enough at him. this frustration is now taking over main stream and intelligent voices within the conservative movement and about broader issues than benghazi. brett stevens, the columnist for "wall street journal" lementes that president obama is not paying a price for a foreign policy that he, stevens, describes as isolationist. now, isolationism will come as a surprise to the diplomat soldier
and the amazing shrinking american budget deficit. i'll ask mitt romney's chief economic adviser whether he thinks the problem has gone away. >>> also, as america prepares to draw down from afghanistan, what can it learn from britain's withdrawal 170 years ago? i'll ask theauthor of a great new book. >>> next, a look into the crystal ball of technology with google's executive chairman eric schmit. a sure fire plan to reduce carbon dioxide emissions. how so? stay tuned....
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the smallest deficit sense 2008 which is five years ago. the deficit had been topping $1 trillion every year cynic the recession ended four years ago. they credit the economic recovery, new tax rules and spending cuts with shrinking the deficit. we'll be right back. i'm so glad you called. thank you. we're not in london, are we? no. why? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your accounts for unusual activity, you could also set up free account alerts. okay. [ female announcer ] at wells fargo we're working around the clock to help protect your money and financial information. here's your temporary card. welcome back. how was london? [ female announcer ] when people talk, great things happen. lovely read susan. may i read something? yes, please. of course. a rich, never bitter taste cup after cup. 340 grams. [ sighs ] [ male announcer ] always rich, never bitter. gevalia. >>> it may seem hard to believe that you're not experiencing day sha 52 h
the smallest deficit sense 2008 which is five years ago. the deficit had been topping $1 trillion every year cynic the recession ended four years ago. they credit the economic recovery, new tax rules and spending cuts with shrinking the deficit. we'll be right back. i'm so glad you called. thank you. we're not in london, are we? no. why? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your accounts for...
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May 16, 2013
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the board of education approved the deficit elimination plan, and really, chris, i want to thank you and other folks who brought attention to this. it was putting a great big light on this problem that, i think, caused the reverse, of course. and the good news is these kids will be able to finish their school year, and i'm just really happy about that. >> what have we learned about michigan governor rick snyder in this, the fact he seemed willing, the state government seemed willing, to let these kids not be in school and not turn over any money and not find some way initially for a bridge loan or something. what does that say to you about the governor? >> first of all, i want to thank them for doing the right thing, even though it took some time. i'm not really anxious to point fingers. i think what it does show is we have huge inequities in this country and in michigan and lots of other places, and we need to correct those inequities. for every buena vista that had to close, there are hundreds of schools that are functioning barely at the sustainable level and getting marginal educ
the board of education approved the deficit elimination plan, and really, chris, i want to thank you and other folks who brought attention to this. it was putting a great big light on this problem that, i think, caused the reverse, of course. and the good news is these kids will be able to finish their school year, and i'm just really happy about that. >> what have we learned about michigan governor rick snyder in this, the fact he seemed willing, the state government seemed willing, to...
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May 14, 2013
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deficit. it's now $200 billion smaller than it was estimated just in february, $642 billion is the projection for the current fiscal year. that's 4% of gross domestic product, which is less than half in both dollar terms and percentage of gdp than it was in 2009, the first year of president obama's presidency. this shows that because of better than expected revenue, slower than expected growth in spending, in part because health care costs are slowing, the deficit is going to fall to 2.1% of gdp in 2015. so, we've had a lot of concern that we've discussed for years about the size of the u.s. deficit. it is now coming down pretty rapidly, bill. >> you know, it's symptomatic of our new normal here. we consider $3 gasoline cheap and we think $642 billion deficit is low. >> but as a percentage -- >> you know what i'm saying. >> yes, i do. but the historical standard -- >> john, does that mean that the gdp is expected to shrink -- >> what's that? >> when we talk about these percentages as a functio
deficit. it's now $200 billion smaller than it was estimated just in february, $642 billion is the projection for the current fiscal year. that's 4% of gross domestic product, which is less than half in both dollar terms and percentage of gdp than it was in 2009, the first year of president obama's presidency. this shows that because of better than expected revenue, slower than expected growth in spending, in part because health care costs are slowing, the deficit is going to fall to 2.1% of...
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May 20, 2013
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four dead at 7/11 store there four more dead as they tried to get into a freeze tore escape this storm deficit all around. reminiscent of joplin, missouri. bark ripped off the trees. trees split in half. its insulation up in the branches. it is twisted metal around telephone poles. at the 7/11 it' as to be a gas pump but it's nothing but electronics and wires hanging out. the pump stilted sideways it gives you chills. is it doesn't matter last when i was on the ground covering deadly tornadoes and last night covering these and now it doesn't matter how many times you see this. it's just absolutely gives you the shivers and to sit here right now. first responders from all over flooding in here. yelling at each other. shep then excuse me for just a moment. live witness from k next thing you know coming across. bricks hear if coming in. it was trying to stuck the storm seller out of the ground unlastled latch the door. caved the door. in once if ended he we of course got out. i car is gone. i can't find it inspects nowhere to be found and there is an sin angel of brandon brought me home. when i g
four dead at 7/11 store there four more dead as they tried to get into a freeze tore escape this storm deficit all around. reminiscent of joplin, missouri. bark ripped off the trees. trees split in half. its insulation up in the branches. it is twisted metal around telephone poles. at the 7/11 it' as to be a gas pump but it's nothing but electronics and wires hanging out. the pump stilted sideways it gives you chills. is it doesn't matter last when i was on the ground covering deadly tornadoes...
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May 18, 2013
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we reduce the deficits. >> spending is out of control. >> the tremendous deficits. >> debts out of control. it is kicking the can down the road an frankly we're out of road. >> really? the best part of this story is how progressive policies took the air out of the deficit. that's been going since george w. bush took office. now republican cuts from sequestration and the fiscal cliff deal did not reduce the deficit. they weren't even part of the calculations. here's what did help slink the deficits. tax heights on the wealthy americans an obama care. joining us with the rapid response are my guests. great to have you all with us. mike, why aren't the republicans talking about the deficit anymore? >> well it's bad news. look this is terrible news, ed. the only way to analyze the deficit to look at the ratio. u's called the gdp to debt ratio. obama came in with the 10% to debt to gdp ratio. he has it down to 4%. they sate's going to down to 2%. those are not great talking points for republicans. >> david does the massive deficit debt reduction hurt job growth. >> we would be much better off i
we reduce the deficits. >> spending is out of control. >> the tremendous deficits. >> debts out of control. it is kicking the can down the road an frankly we're out of road. >> really? the best part of this story is how progressive policies took the air out of the deficit. that's been going since george w. bush took office. now republican cuts from sequestration and the fiscal cliff deal did not reduce the deficit. they weren't even part of the calculations. here's what...
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May 16, 2013
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neil: deficits are tumbling the revenues are coming in. >> then the next thing you know the wags, you know --. neil: we don't have to cut. we don't have to cut. >> cbo says problem solved. this is what some blogger on "the washington post" said today believe the cbo forecast i have some swampland in florida. they suggest 40 years no recession or no economic dislocation we will create seven times more jobs in the next decade than we did over the next decade with wage and salary growth two times what has been. >> that $642 billion it is a lot less than it was in well under $1 trillion and we can remember a time when deficits were approaching $100 billion now we celebrate 642 billion but whatever that is. >> of course, $50 billion is a pavement a tax gimmick from fannie mae. where do they get the 60 million? they borrow it. neil: a lot of it is a tax increase. that part is there temporarily because with the fiscal cliff came at the end of the year there was a huge pre-emptive realization and bonuses were paid and 100 billion as one time revenue. neil: so you say with a focus on the lates
neil: deficits are tumbling the revenues are coming in. >> then the next thing you know the wags, you know --. neil: we don't have to cut. we don't have to cut. >> cbo says problem solved. this is what some blogger on "the washington post" said today believe the cbo forecast i have some swampland in florida. they suggest 40 years no recession or no economic dislocation we will create seven times more jobs in the next decade than we did over the next decade with wage and...
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May 15, 2013
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the deficit is getting smaller. a lot smaller. the congressional budget office says it will be $400 million less than the trillion dollars deficit last year. it's down because of higher taxes. a 60 billion check to the government from fannie and freddie. there's a down side for those of us who want the government to get its finances in order, this takes the wind out of the sails of the spending, cutting movement. maybe the deficit news helped stocks, another record close for the dow, 19th this year and same story for the s&p 500, the 14th he record there this year. we're looking at a flat to slightly lower opening today, but that happened yesterday and we still went up 120 by the close. stay tuned. and suddenly, it seems that president obama's second term agenda is unravelling. and the mainstream media have turned on the administration. big government seriously questioned, my, have times have changed. in just ten days. here is the the all-government, all the time president speaking the at ohio state may the 5th. >> unfortunately,
the deficit is getting smaller. a lot smaller. the congressional budget office says it will be $400 million less than the trillion dollars deficit last year. it's down because of higher taxes. a 60 billion check to the government from fannie and freddie. there's a down side for those of us who want the government to get its finances in order, this takes the wind out of the sails of the spending, cutting movement. maybe the deficit news helped stocks, another record close for the dow, 19th this...
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the true issue with deficits. when you pad the course with too much weight it doesn't make the trip as efficiently. and i do understand everybody wants to ring the bell on smaller deficits. i'm in the club as well. we need to be be honest about it. obviously that's the main motivation. but there's another. we cosigned for all the losses. just hope it doesn't mean no reform. we need a free market in housing that isn't the government. nothing talks about free markets better than a really old book. wealth of nations 1776. hey, that was a really good year by the way. adam smith. what is the underlying premise of adam smith we can apply in ample helpings to a variety of issues in the day? that is who should best deal with the procurement? whether it's a natural resource like natural gas or whether the government should decide who gets loans or what what type of loans. no, no, no. it should be free market for free men. and as the wealth of nations pointed out. don't worry about natural gas. the government can't decide w
the true issue with deficits. when you pad the course with too much weight it doesn't make the trip as efficiently. and i do understand everybody wants to ring the bell on smaller deficits. i'm in the club as well. we need to be be honest about it. obviously that's the main motivation. but there's another. we cosigned for all the losses. just hope it doesn't mean no reform. we need a free market in housing that isn't the government. nothing talks about free markets better than a really old...
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May 13, 2013
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another part of shrinking the deficit is not just tied to cutting government spending. you look at the number of unemployed in the country and that is a real drag onotomy. as the economy grows that is another part of shrinking that monster, if you will. >> chris: governor, let's address your personal scandal. what did you learn interes fro? >> you learn ar a lot. i would say that you probably learn more in the valleys of life than you do in the mountain tops. learned whole new you things that i never comprehended before with regard to god's grace and the reflective grace that comes through other humans that you walk with on a daily basis. i learned a lot about judgment and forgiveness. i could go down a litany of different things but i boil it down this way. our minister gave a great sermon a number of months back and his point was do the events of your life refine or define your life. i think in politics people want to take an event and make it definitional to your life. i think that any of these valles or any of these bumps that we hit in the road of life by circumsta
another part of shrinking the deficit is not just tied to cutting government spending. you look at the number of unemployed in the country and that is a real drag onotomy. as the economy grows that is another part of shrinking that monster, if you will. >> chris: governor, let's address your personal scandal. what did you learn interes fro? >> you learn ar a lot. i would say that you probably learn more in the valleys of life than you do in the mountain tops. learned whole new you...
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May 16, 2013
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the smallest deficit sense 2008 which is five years ago. the deficit had been topping $1 trillion every year cynic the recession ended four years ago. they credit the economic recovery, new tax rules and spending cuts with shrinking the deficit. we'll be right back. >>> welcome back to "hardball." may seem hard to believe that you're not experiencing deja vu here, but it happened again now, a military serviceman whose job it is to protect against sexual assault has excused himself of sexual assault. latest case involves a ft. hood sergeant. you won't believe this, i couldn't believe it, into prostitution and for sexually assaulting this guy did apparently charged with two others. the army's not releasing his identity as he has not been charged officially, but get a load of his job title, sexual harassment response and coordinator. that's right, the guy you're supposed to go to for help is accused of sexually assaulting someone. this comes just one week after the man in charge of sexual assault from the entire air force was charged with sexu
the smallest deficit sense 2008 which is five years ago. the deficit had been topping $1 trillion every year cynic the recession ended four years ago. they credit the economic recovery, new tax rules and spending cuts with shrinking the deficit. we'll be right back. >>> welcome back to "hardball." may seem hard to believe that you're not experiencing deja vu here, but it happened again now, a military serviceman whose job it is to protect against sexual assault has excused...
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let's not put immigration and let's not put deficit reduction on the back burner. >> the deficit will be down 2.1% of gdp by 2015 which is well within the range that economists think it should be. the hatred of the president, and chris is right about this. much of it is rooted in race i. it is so intense that there is no interest in dealing with these other issues. also, republicans are deeply divided on everything except trying to repeal the affordable care act which isn't going to happen. so they'll focus on the scandals. a way for boehner, for mccould not to appease the tea party. and i think you asked a smart question. i think this could come back and bite the republicans politically. look back to 1998 when there was an intense effort to impeach president clinton. the democrats went out there in the mid-term and said, impeachment, scandals, it is all they're talking about. we ought to be talking about education, social security, the environment which were the real issues at that time. and the republicans got spanked badly in that mid-term election. the democrats defied history and
let's not put immigration and let's not put deficit reduction on the back burner. >> the deficit will be down 2.1% of gdp by 2015 which is well within the range that economists think it should be. the hatred of the president, and chris is right about this. much of it is rooted in race i. it is so intense that there is no interest in dealing with these other issues. also, republicans are deeply divided on everything except trying to repeal the affordable care act which isn't going to...
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he inherited a city with $300,000 budget deficit. the state's appointed emergency financial manager warned that the deficit could $386 million by jewel 1st. >>> in new jersey the role other coaster at seaside heights is being demolished. it was a symbol of the pamage that superstorm sandy inflicted on the east coast. those are your headlines. i'm patti ann browne. back to you. ashley: patti ann, we thank you so much. get back to the markets. call it a case of the tuesdays. the dow less than two hours from extending the win he can street of 18 straight tuesday as the market is on track to finish in record territory yet again. joining me, above pavlick, from banyon partners with his take what he is watching to drive the market higher. bob, thank you so much for joining us. so you say, look there's lots more room to the upside. i don't say that you say a lot of room but there is room to the upside. what is driving the markets right now? we've gone through earnings. the economic date at thaa is so so. by all economic accounts we're drift
he inherited a city with $300,000 budget deficit. the state's appointed emergency financial manager warned that the deficit could $386 million by jewel 1st. >>> in new jersey the role other coaster at seaside heights is being demolished. it was a symbol of the pamage that superstorm sandy inflicted on the east coast. those are your headlines. i'm patti ann browne. back to you. ashley: patti ann, we thank you so much. get back to the markets. call it a case of the tuesdays. the dow less...
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because we have seen our deficits start reducing because a lot of tax receipts came in. if this is a trend that continues you will see the treasury auctions less and less securities so the fed will have to shift their purchases right now. if there is any kind of focus given where a lot of the corporate numbers and buy backs and cash is, and how the economy is starting to pick up steam. i don't think ben bernanke and powers that be are focused. if anything happens once you start seeing sell off you will see that cash rotating towards the economy market quick. >> and as mary was saying we're not seeing an undue amount of concern. >> the president addressed the growing irs situation. giving more scrutiny to those linked to conservative groups. let's get down. john, come out and said this is unacceptable. what's the next step in the story. took a different tack on two controversies. he said look. this is a political circus. it's a side show. he said he's not going to tolerate it. here is the president. >> if you have got the irs operating in anything less than neutral and no
because we have seen our deficits start reducing because a lot of tax receipts came in. if this is a trend that continues you will see the treasury auctions less and less securities so the fed will have to shift their purchases right now. if there is any kind of focus given where a lot of the corporate numbers and buy backs and cash is, and how the economy is starting to pick up steam. i don't think ben bernanke and powers that be are focused. if anything happens once you start seeing sell off...
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May 13, 2013
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we have seen the likes of france, spain being given more time to reach their deficits. yes, the pressure to see the fiscal consolidation continues. the pressure for structural reforms, that's not going to change. they're needed to boost growth. the likes of france in particular, talks here, the need to push forward with structural reforms, open question. >> all right. julia, plenty more to come. thanks for that. >>> meanwhile, the prime minister isn't willing to keep his government going at any cost. he had a meeting in tuscany. the tensions with the coalition are up. sill view yeah berlusconi, they were accusing of trying to eliminate him politically. they're outlining the government's agenda here on cnbc and explaining the steps they're taking to try to boost the economy and reduce the deficit. >> it is going to be redesigned in such a way not to increase the deficit and to stay within those limits. as i said, thanks to the kind of policies that were followed in the last few years, we have already gained some room of maneuver within the 3% margin. we are not above or
we have seen the likes of france, spain being given more time to reach their deficits. yes, the pressure to see the fiscal consolidation continues. the pressure for structural reforms, that's not going to change. they're needed to boost growth. the likes of france in particular, talks here, the need to push forward with structural reforms, open question. >> all right. julia, plenty more to come. thanks for that. >>> meanwhile, the prime minister isn't willing to keep his...
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May 15, 2013
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the cbo expects a deficit for the 2013 fiscal year. it's more than $200 billion lower than the previous estimate just three months ago. the adjustment reflects new revenue, thanks from changes in tax laws and increase in payments from fannie mae and freddie mac. the cbo's current projection would mark the lowest deficit yet under president obama. >>> another u.s. service member assigned to a military sexual assault program under investigation for sexual misconduct. the pentagon says a u.s. army sergeant could face charges for solicitation abusive sexual contact, assault and treatment of subordinate. the soldier allegedly forced one subordinate soldier into prostitution and physically assaulted two others. the report comes a week after an air force lieutenant colonel working in the sexual assault prevention office was arrested and accused of sexual battery. >>> a day after being convicted for some of the worst crimes you can imagine, dr. kermit gosnell has avoided life in prison. he was found guilty of the deaths of three babies at his
the cbo expects a deficit for the 2013 fiscal year. it's more than $200 billion lower than the previous estimate just three months ago. the adjustment reflects new revenue, thanks from changes in tax laws and increase in payments from fannie mae and freddie mac. the cbo's current projection would mark the lowest deficit yet under president obama. >>> another u.s. service member assigned to a military sexual assault program under investigation for sexual misconduct. the pentagon says a...
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budget deficit? i am serious the deficit dramatically lower. next. we're not in london, are ? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your account or unusual activity, you could alsoet up free account alerts. okay. [ female announcer ] atells fargo we're working rounthe clock to help protect your money and financial informaon. here your temporary card. welcome back. how was london? [ female announcer ] when people talk, great things happen. ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and withhat: you're history. instead of looking behind... delta is looking beyond. 80housand of us investing billions. in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. >> the federal budget is a visit expected to shrink this fiscal year after four years of deficit of $1 trillion of ex
budget deficit? i am serious the deficit dramatically lower. next. we're not in london, are ? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your account or unusual activity, you could alsoet up free account alerts. okay. [ female announcer ] atells fargo we're working rounthe clock to help protect your money and financial informaon. here your temporary card. welcome back. how was london? [ female announcer...
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May 16, 2013
05/13
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FBC
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well it was a string of republican and democratic decisions to not hit the full number on security deficits. this is outrageous and senator menendez says we know about benghazi? somebody will puke out there outrageous conduct. [laughter] >> no vomit here in washington d.c. tonight studio number four. lou: maybe you are tougher. >> we have been marinating longer but to your point* the president today was so careful with the artfully crafted all of his theaters were artfully crafted and careful not to blame funding for the attackkin benghazi but mentioning funding a rounded to create the inference. boxer was less careful and when you ask about the ira'she ? he did not answer the question so he was very legalistic. lou: this is moving from a crisis of confidence, it seems to me, directly to a constitutional crisis. this president has lost his credibility. it has been shredded. where are we headed? >> but his ability is to get things done and there is no appetite in washington to get anything done with scandal swirling around the president so beleaguered not he is labor it they and lame in the
well it was a string of republican and democratic decisions to not hit the full number on security deficits. this is outrageous and senator menendez says we know about benghazi? somebody will puke out there outrageous conduct. [laughter] >> no vomit here in washington d.c. tonight studio number four. lou: maybe you are tougher. >> we have been marinating longer but to your point* the president today was so careful with the artfully crafted all of his theaters were artfully crafted...
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regards tried to create an image running programs in we're concerned budget deficits by simply slicing public investment and continuing continuously delaying statements about its directions so in reality if if that were extended paid on time whatever money he owes we were still have a big deficit so that's why i insisted that this and you know this isn't just an attempt to remain within the nominal terms of the bailout agreement and not a real improvement and on the other hand all that it all or recent decisions from that part of the greek government such as the decision to lay off tens of thousands of public servants of the that the very big wage or reduction in the private sector that will start tomorrow so there are real aspects of it a brick of the government's economic policy a policy if you're one of the recession the amity demands that greece remains to go to other policies that will simply make even worse the humanitarian disaster we are already facing and which was described in your reports just. despairs growing at america's gone time obey prison where detainees have been on
regards tried to create an image running programs in we're concerned budget deficits by simply slicing public investment and continuing continuously delaying statements about its directions so in reality if if that were extended paid on time whatever money he owes we were still have a big deficit so that's why i insisted that this and you know this isn't just an attempt to remain within the nominal terms of the bailout agreement and not a real improvement and on the other hand all that it all...
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May 13, 2013
05/13
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FBC
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the deficit matters. if you have over 200% debt to gd ratio you have finance it domesticly. if you have foreigners buying your currency it matters. prirnt money like crazy, this can not have a good ending. cyprus when that blew up it was, a big deal. but japan is of course much bigger deal. we've always argue we never had a eurozone crisis. that is good news. bad news we have a global crisis that might focus on the japan or the u.k.. lori: what should that basket of currencies look like for the best investment? >> there is no safe haven as i indicated. you have to spread your eggs. one the cure return sis more than many others do is the euro priest sigh list because everybody else hates it. they're mopping up liquidity where everyone else is printing money. they have a lot of pain. the reason they have pain is they're not print enough money. i'm not saying buy equities but the currency can be stronger. ultimately you have to have a basket. can't put money one egg, be it australian dollar or the looun any or whatever it may be. lori: axel merk. thanks for coming in. melissa:
the deficit matters. if you have over 200% debt to gd ratio you have finance it domesticly. if you have foreigners buying your currency it matters. prirnt money like crazy, this can not have a good ending. cyprus when that blew up it was, a big deal. but japan is of course much bigger deal. we've always argue we never had a eurozone crisis. that is good news. bad news we have a global crisis that might focus on the japan or the u.k.. lori: what should that basket of currencies look like for the...
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May 16, 2013
05/13
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MSNBCW
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they want to see the deficit come down. a new report shows that the deficit has shrunk by $800 billion since president obama took office. that's the fastest deficit reduction we've had since world war ii. the last one, $200 million despite all of the deficit shrinking. the gop is still refusing to roll back the automatic budget cuts, some of which dana just referred to. here's some local tv reports on how those cuts are hurting real people on the ground. look at this. >> cuts to the department of housing and urban development have left thousands of low income families struggling to get a place to live. >> getting kids like clamari in to head start is going to be more difficult. because of budget cuts, places like this are taking less kids the next school year. >> thousands of meals may be cut. the director says it comes at a time when donations are already down. >> it's real stuff, congresswoman. >> that's right. and it's really staggering. i've been out in my district where we have worker who is are facing furloughs, we ha
they want to see the deficit come down. a new report shows that the deficit has shrunk by $800 billion since president obama took office. that's the fastest deficit reduction we've had since world war ii. the last one, $200 million despite all of the deficit shrinking. the gop is still refusing to roll back the automatic budget cuts, some of which dana just referred to. here's some local tv reports on how those cuts are hurting real people on the ground. look at this. >> cuts to the...
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May 14, 2013
05/13
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CNBC
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now we only have a deficit less than 100 the next six months. the net issuance versus refunding is a little over 100. that means we have 400 billion, 400 billion that has to be made up. so basically think about this. that's being taken out of the market, out of the bond market. 400 billion is now in your hands, my hands and other folks's hands. and there's a few choices. it either has to go in the economy, which, you know it probably will go somewhat in the economy. it has to go to the short end of the curve trade better. we have this excess. or it has to make stocks trade higher. now, the problem is you might be worried some of that might go into the economy and, you know it might stimulate with a little bit of surge. basically, afterwards, we also have to cut back because the deficits in the future will be less than this trillion dollars. so if we don't taper back we will get into this hyper drive market. it's backwards. the fed has to taper back. because if you look at the numbers, it's so tremendous, these numbers are so tremendous that you
now we only have a deficit less than 100 the next six months. the net issuance versus refunding is a little over 100. that means we have 400 billion, 400 billion that has to be made up. so basically think about this. that's being taken out of the market, out of the bond market. 400 billion is now in your hands, my hands and other folks's hands. and there's a few choices. it either has to go in the economy, which, you know it probably will go somewhat in the economy. it has to go to the short...
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May 15, 2013
05/13
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we were hoping to work more on the deficit. do you think this will diverge us from getting things like that done in washington? >> i am not so sure that the market will take that as bad news. the less they do inside the beltway seems to be the better. that is seen as bad news. the more gridlock, the better in many peoples minds. dennis: we have justice with the ap, the irs going after tea party groups, if we have a third-party to come up that is overreaching like that, it gets far worse. >> i will give you one. it is still another one. if i can quickly push back a little on what david said, i agree. i would also say be careful what you wish for. the specter of a three year lame-duck president does not look that great internationally. i do worry about that angle. >> i am not too worried about what is happening internationally. i think they will basically be just slightly by over the next couple years. it is the economy here that i am worried about. with gridlock, look at what we have been able to get done. the president realizes
we were hoping to work more on the deficit. do you think this will diverge us from getting things like that done in washington? >> i am not so sure that the market will take that as bad news. the less they do inside the beltway seems to be the better. that is seen as bad news. the more gridlock, the better in many peoples minds. dennis: we have justice with the ap, the irs going after tea party groups, if we have a third-party to come up that is overreaching like that, it gets far worse....
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May 17, 2013
05/13
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. >>> and while congress has failed to come to terms on legislation in terms of guns and the deficit, immigration reform may not suffer the same fate. the so-called gang of eight's proposal has made it through a third round of senate committee hearings mostly in tact. the committee is considering more than 300 amendments to the bill. meanwhile, in the house, lawmakers reached an agreement in principle on a proposal. the plan is to be more conservative than the senates but will still contain a pathway to citizenship. >>> to business, tim cook says he'll propose a dramatic simplification of tax laws when he heads to washington next week. let's check in with steve sedgwick. what's the word on the street? >> this is fascinating. tim cook of apple is joined by many ceos over there. they have trillions of dollars overseas. they can't bring it back without huge tax bills. he's going up to say, if you want this money to create jobs state side, you have to give us simpler tax bills. dell, a big decrease in revenue this is time around. it saw a huge decrease in shipments in the first quarter. g
. >>> and while congress has failed to come to terms on legislation in terms of guns and the deficit, immigration reform may not suffer the same fate. the so-called gang of eight's proposal has made it through a third round of senate committee hearings mostly in tact. the committee is considering more than 300 amendments to the bill. meanwhile, in the house, lawmakers reached an agreement in principle on a proposal. the plan is to be more conservative than the senates but will still...
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May 12, 2013
05/13
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it's going to put a strain on europe's economy and their deficits. the deficits and austerity measures put in place to deal with their dent are a source of major controversy there. as the debate rages on, leaders are watching in the u.s. closely. former president bill clinton said there's a right way and a wrong way to do austerity. >> if you don't kick a long-term deficit reduction plan in at the right time and we don't pass a plan in advance, then there's always the chance that the economy will start recovering and interest rates will go through the roof and it will make the susequester look like a sunday afternoon walk in the park. >> so here's the question, will too much government belt tightening threaten the fragile u.s. recovery? and what can the u.s. learn from europe and its crisis? peter is an economist and professor at the university of maryland school of business. richard quest is the host of quest means business on cnn international. thank you for joining me. peter, let me start with you. you say it's too late. austerity measures in euro
it's going to put a strain on europe's economy and their deficits. the deficits and austerity measures put in place to deal with their dent are a source of major controversy there. as the debate rages on, leaders are watching in the u.s. closely. former president bill clinton said there's a right way and a wrong way to do austerity. >> if you don't kick a long-term deficit reduction plan in at the right time and we don't pass a plan in advance, then there's always the chance that the...
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May 19, 2013
05/13
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CSPAN2
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always easy when it comes to the military questions i think in particular there are challenges and trust deficits to overcome. but broadly i think the general trust of the development politically is quite positive. >> what are some of the resources in the arctic? >> lots of oil and gas for a start and green land also uranium, gold, pretty much everything you can think of is likely to be in the arctic and because it is under unexplored there is the chance that quite a lot of substances will be discovered but getting that this is very difficult and expensive. there are lots of environmental risks associated with it. so the fact that it's there doesn't necessarily imply that it will be produced. >> with the militarization of the arctic? has that happened? >> welford years ago in the height of the cold war there were probably more than there are now so what you have seen is it is important militarily because it's a good place for the submarines to hide to destroy russia or the united states or london. now that area is over so that kind of military infrastructure is no longer necessary in the arctic b
always easy when it comes to the military questions i think in particular there are challenges and trust deficits to overcome. but broadly i think the general trust of the development politically is quite positive. >> what are some of the resources in the arctic? >> lots of oil and gas for a start and green land also uranium, gold, pretty much everything you can think of is likely to be in the arctic and because it is under unexplored there is the chance that quite a lot of...
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May 15, 2013
05/13
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KOFY
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. >> well now to the incredible should rinking budget deficit. congressional budget office predicts 2013 budget deficit of 6 from a billion dollars. a lot but that's more than 200 billion below the february estimate. smallest short fall since 2008 and first time the deficit has been below 1 trillion i don't know since then. hair tax revenue spending cuts and better than expected bailout repayment by mortgage giant fannie mae and freddie mac are the key reasons for this. >> well those airline fees really add up. airlines collected more than 6 billion dollars in baggage and reservation change fee from passengers last year maybe some of your money. the fees are helping the industry return to profitability. >> air india plagued by financial difficulty. one of the pilot was locked out of the cockpit after a bath room break. door was jammed so the co-pilot had to divert the flight. >> schools are getting a multi-billion dollar boost in governor brown newly rae advised california budget but schools are about the only thing benefitting from the extra cas
. >> well now to the incredible should rinking budget deficit. congressional budget office predicts 2013 budget deficit of 6 from a billion dollars. a lot but that's more than 200 billion below the february estimate. smallest short fall since 2008 and first time the deficit has been below 1 trillion i don't know since then. hair tax revenue spending cuts and better than expected bailout repayment by mortgage giant fannie mae and freddie mac are the key reasons for this. >> well...
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May 15, 2013
05/13
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deficit is shrinking more quickly than previously thought. the nonpartisan budget watchdog says revenue growth will out-pace spending over the next two years. the cbo is slashing its deficit forecast for fiscal 2014 to $642 billion. it's the smallest shortfall since 2008. they're citing rising personal income tax revenues and higher dividend payments by the likes of fannie mae and freddie mac. dan, how important is their assessment? >> well, it's very important for treasury yields. in the first part of the year, we had them go above 2% as economic growth looked strong, a bit down, but now we're moving in that direction again. but what may be a limit on them is exactly this -- the treasury isn't going to be issuing as much debt because the budget deficit's falling. the fed in the meantime is still buying a lot of treasuries, so you're starting to run into a demand and supply imbalance, where there's maybe not quite enough debt out there, if you will. we talk about having too much debt. maybe we don't have enough, and that will probably keep a
deficit is shrinking more quickly than previously thought. the nonpartisan budget watchdog says revenue growth will out-pace spending over the next two years. the cbo is slashing its deficit forecast for fiscal 2014 to $642 billion. it's the smallest shortfall since 2008. they're citing rising personal income tax revenues and higher dividend payments by the likes of fannie mae and freddie mac. dan, how important is their assessment? >> well, it's very important for treasury yields. in the...
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May 17, 2013
05/13
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but the gop deficit hawks apparently didn't care about that story. beaten at the ballot box, the republican party is unified around one thing. the hunt for scandal. that's so sad. and so is their once proud party. joining me now is congressman joe crowley, democrat from new york and member of the ways and means committee. host of melissa harris-perry, thank you for coming on tonight. >> hi. >> is the congress more discussed and somehow link anything -- >> right. >> an accident on the street, an aunt gets crushed and it was really sad today, sitting in the committee we all were anticipating, working in the bipartisan way. what happened was outrageous. all of us are outraged about anything done improperly by the irs, by the justice department. but i think you made the point that we've all been trying to show how you came into the hearing and hysteria. listen to all of this. >> the president has been very forthright and i would really ask the questions, get the facts, and then we can draw our own conclusions. >> i mean, the fact that they are trying to
but the gop deficit hawks apparently didn't care about that story. beaten at the ballot box, the republican party is unified around one thing. the hunt for scandal. that's so sad. and so is their once proud party. joining me now is congressman joe crowley, democrat from new york and member of the ways and means committee. host of melissa harris-perry, thank you for coming on tonight. >> hi. >> is the congress more discussed and somehow link anything -- >> right. >> an...
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it budget deficits by simply slicing the public investment. continuing continuously delaying that statement about its direction so in reality if if the greek states. were everybody all those with which they have. this issue so that's why they insist that it does i mean listen it is up to them to remain within the norm in the. sense not to really prove that. so all the real aspects of the. government's agreement the issue of policy is the what is your recession the very big question the elephant is a room of this size this. is you know bailout agreement earlier in reality do they have in greece. and during an astonishing six years of recession is also having a harrowing consequence so is science in greece which used to be the lowest rate in euro are rising rapidly mostly among the middle class troublingly people have taking their lives in public hanging or shooting themselves or even self-immolation while politicians and economists shuffle the figures as the people of greece being the price with their livelihoods and their futures and some othe
it budget deficits by simply slicing the public investment. continuing continuously delaying that statement about its direction so in reality if if the greek states. were everybody all those with which they have. this issue so that's why they insist that it does i mean listen it is up to them to remain within the norm in the. sense not to really prove that. so all the real aspects of the. government's agreement the issue of policy is the what is your recession the very big question the elephant...
we do have a structural budget deficit in the city. we need
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May 19, 2013
05/13
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CSPAN2
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but in 1972, '72, the united states' trade deficit, current account deficit was getting bigger and bigger, and the french were threatening to add demand gold. so one fine day nixon abrogated, essentially, our commitment, ended the bretton woods system. i remember that happened to be the day that i was leaving the council to go back to the university of pittsburgh because i had decided i could to longer ignore the likelihood that the president was mixed up in the watergate scandal. and the chairman's assistant called me up and said, marina, be sure and listen to the radio tonight, because the president is really going to drop a bomb. so i hung up and turned around and said to my family, oh, the president's really going to drop a bomb tonight, and our daughter was about 8 years old, and her pigtails kind of stood up on end, and she hid under the kitchen table and said he's going to drop a bomb here? so anyway, he did. he abrogated the bretton woods system. he put into effect the infamous wage price control program. and so there were two big economic issues on the table. one was the wage pri
but in 1972, '72, the united states' trade deficit, current account deficit was getting bigger and bigger, and the french were threatening to add demand gold. so one fine day nixon abrogated, essentially, our commitment, ended the bretton woods system. i remember that happened to be the day that i was leaving the council to go back to the university of pittsburgh because i had decided i could to longer ignore the likelihood that the president was mixed up in the watergate scandal. and the...
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May 17, 2013
05/13
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congressman ryan, are you going to be able to work with the administration on things like the economy and the deficit and immigration reform while congress also spends so much time focused on discovering more and doing more in oversight on the scandals and controversies. here's what he had to say. >> we have to do our job to our constituents to do oversight of the federal government, we're not getting straight answers on benghazi. we're not getting straight answers on the irs. clearly we're worried about intimidation of the press with respect to the doj scandal. that doesn't mean we're only going to do that. >> his point is they can walk and chew gum at the same time, that members of congress have this oversight responsibility, but you heard him say, very pointedly, we're not getting straight answers on benghazi, we're not getting straight answers on the irs. there is a lot of feeling by republicans and even some democrats in congress that the testimony today by the acting irs commissioner did him more harm than good. even if he's on his way out the door, there are questions about whether or not he's
congressman ryan, are you going to be able to work with the administration on things like the economy and the deficit and immigration reform while congress also spends so much time focused on discovering more and doing more in oversight on the scandals and controversies. here's what he had to say. >> we have to do our job to our constituents to do oversight of the federal government, we're not getting straight answers on benghazi. we're not getting straight answers on the irs. clearly...
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May 15, 2013
05/13
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the federal deficit is shrinking faster than expected. the congressional budget office estimates the deficit for this fiscal year will fall to $642 billion. 200 billion what they forecast in february. and the cbo says the deficit should keep improving through 2015, when it's projected to drop to $378 billion. in part, they credit tax revenue and better than expected bailout repayments. man: the charcoal went out already? ... forget it. vo: there's more barbeque time in every bag of kingsford original charcoal. kingsford. slow down and grill. all stations come over to mithis is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. thanks, olivia. thank you. so you can make a payment from your cell to almost anyone's phone or email. (speaking french) so you can express your gratitude... in the moment. chase quic
the federal deficit is shrinking faster than expected. the congressional budget office estimates the deficit for this fiscal year will fall to $642 billion. 200 billion what they forecast in february. and the cbo says the deficit should keep improving through 2015, when it's projected to drop to $378 billion. in part, they credit tax revenue and better than expected bailout repayments. man: the charcoal went out already? ... forget it. vo: there's more barbeque time in every bag of kingsford...